CREDIT DAYBOOK AMERICAS: Junk Spreads Jump to Highest Since 2020

The spread on the Bloomberg high-yield index jumped 35 basis points to 437 basis points -- the largest move since June 2020. Meanwhile, a key measure of corporate credit risk is opening firmer Tuesday morning, which may encourage potential investment-grade issuers that opted to stand down amid broad volatility on Monday to bring deals on Tuesday.

• The spread on the junk index hit the highest since November 2020, and the Bloomberg high-grade index spread rose 5bps to 139bps, the biggest move since March 8
  • Average prices in the leveraged loan market have fallen for 12 straight days as well, closing ...